Schulz won for the first time since the 1991 Nissan Open, his second of two PGA Tour victories.
PEBBLE BEACH, Calif. (AP) -- Ted Schulz won the First Tee Open on Sunday for his first Champions Tour title, holing a 12-foot birdie putt on the 17th hole at Pebble Beach en route to a 2-under 70 and a one-stroke victory over Tom Pernice Jr.
The 50-year-old Schulz -- in the field on conditional status in his 12th start on the 50-and-over tour -- finished at 14-under 202. It was his first victory since winning the 1991 Nissan Open for the second of his two PGA Tour titles.
"It's huge," said Schulz, who had an eagle, birdie and two bogeys. "I played pretty solid most of the day. I didn't hit is as close as yesterday and I figured I would win if I shot four under. It turned out, two under was enough."
Schulz, who quit the PGA Tour in 2000 and is the director of golf at the University of Louisville, earned $315,000, the biggest payday of his career and nearly twice what he earned for his Nissan Open title.
"I was pretty nervous. I got up four times last night," Schulz said. "But once I got it going, I was pretty solid the whole day."
Pernice finished with a 67.
"I didn't know Ted had birdied 17 behind me," Pernice said. "I would have played 18 differently. I hit a terribly layup. But I'm happy for Ted. He hasn't been there in a while."
Mark Calcavecchia and Tom Kite closed with 69s to tie for third at 12 under. Fred Couples (68) followed at 11 under.
Jeff Sluman, the 2008 and 2009 winner, shot a 71 to finish at 6 under.